Treaty Head of Catastrophe Underwriting North America
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General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. Its direct reinsurance companies conduct business as Gen Re.
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of more than 40 offices, we have earned superior financial strength ratings from each of the major rating agencies.
Gen Re currently offers an excellent opportunity for a Treaty Head of Catastrophe Underwriting. Our Stamford, CT office is the preferred work location.
This role is within the North America Property and Casualty Reinsurance division with responsibility for the Treaty Cat underwriting and loss modelling team directly reporting into CEO. The Catastrophe head would be responsible for structuring, underwriting, pricing, and portfolio management of US catastrophe product in support of treaty business units and senior management decision making. This role also manages the cat modelling team’s responsibilities, which include assessing Gen Re’s internal view of aggregate catastrophe risk as well as producing account specific cat modeling outputs in support of the underwriting process. The ideal candidate will possess strong management, communication, and technical skills and in-depth knowledge of the Cat reinsurance market.
Primary responsibilities of a Treaty Head of Catastrophe Underwriting:
Leadership and Teamwork
- Demonstrates a strong work ethic and a sense of urgency.
- Leads by example; takes a leadership role through active participation in local, regional and global treaty goals.
- Promotes a collaborative team culture.
- Demonstrates an ability to proactively manage potential conflict, internally and externally.
- Maintains collaborative relationships with other Gen Re business and service units by encouraging cooperation, participation, information exchange and identification of opportunities.
- Seeks feedback and continuously learns/improves own skills, including professional designations, as appropriate.
- Participates in and contributes to training, coaching, and mentoring initiatives.
- Contributes to a positive, disciplined, high trust, respectful and fun work environment.
- Act as the lead expert resource to positively influence underwriting practices of internal and external clients.
- Demonstrates a comprehensive knowledge and facility to develop and communicate underwriting guidelines, pricing techniques, models, judgments, structures and contract terms and conditions in order to successfully underwrite and assist in negotiating and binding profitable treaty business.
- Leads the underwriting process in North America for Treaty Catastrophe placements including:
- Reviewing the effectiveness of ceding company operations and the appropriateness of coverage grants, underwriting rules and policy coverage.
- Reviewing reinsurance contract coverage and structure for identified risks/exposures and putting forth alternative structures whenever this would be beneficial.
- Accountable for consistent and effective Underwriting Guidelines.
- Applies supportable deviations within the authority delegated.
- Refers supportable deviations that are outside the authority delegated.
- Has a solid understanding of pricing tools including all pricing parameters and loadings used for rating input including detailed knowledge of industry models, their strengths and weaknesses.
- Responsible for interpreting rating output and ensuring consistency with qualitative information acquired n the account underwriting process.
- Has a solid understanding of the metrics and reports used for analyzing reinsurance results.
- Maintains current knowledge of marketplace and leading tools and analytics to appropriately price products.
- Possesses deep understanding and technical knowledge of both the insurance and reinsurance product so as to effectively articulate and position Gen Re’s offerings.
- Establishes and maintains enduring professional relationships with clients and prospects based on trust and integrity.
- Client interaction and engagement to provide creative reinsurance structures and solutions.
- Possesses a strong understanding of primary and reinsurance marketplace and stays abreast of industry trends and developments. Able to think strategically in order to effectively align Gen Re’s strategy to the ever-changing client needs.
- Possesses a strong ability to understand company financials as it relates to potential impact on reinsurance purchasing, and the structuring skills needed to address financial and other client motivations affecting the purchasing decision.
- Explores ways to expand the Gen Re brand via industry speaking engagements, publications, marketing material development and industry event attendance.
- Provides training and development opportunities for associates within the Catastrophe Unit and Treaty Department.
Running the Business
- Supports and fosters Gen Re’s Risk Management culture. Ensures compliance with all underwriting/pricing standards and processes.
- Demonstrates effective time management skills.
- Accountable for Catastrophe portfolio for NA PC Treaty.
- Works with Treaty business units as a resource and leadership in Catastrophe exposures and underwriting.
- Actively suggests and supports change and improvement as an essential part of any ongoing vital organization.
- Practices an open, honest and respectful communication style. Encourages and ensures ongoing communication on all matters of importance.
- Is proficient in the use of all technology relevant to the position.
- Applies a cost/benefit mentality on all ongoing expenses.
- 15 years of experience in insurance/reinsurance industry with strong client relationship experience
- Strong knowledge of Treaty reinsurance concepts and processes
- Strong knowledge of Catastrophe Reinsurance tools
- Strong knowledge of Catastrophe marketplace
- Strong knowledge of vendor model execution workflows. Specifically; RiskLink, Risk Browser, Touchstone and Touchstone Re.
- Strong written and verbal communication skills
- Strong technological and math/analytical skills
- Some travel required